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Required Information [The following information applies to the questions displayed below.] Cascade Company was started on January 1, Year 1, when it acquired $158,000 cash from the owners. During Year 1, the company earned cash revenues of $98,200 and incurred cash expenses of $68,200. The company also paid cash distributions of $10,500. Required Prepare a Year 1 income statement, capital statement (statement of changes in equity), balance sheet, and statement of cash flows under each of the following assumptions. (Consider each assumption separately.) c. Cascade is a corporation. It issued 8,000 shares of $12 par common stock for $158,000 cash to start the business. Complete this question by entering your answers in the tabs below. Inc Stmt Stmt of Bal Sheet Cash Flows Changes Prepare a income statement for Year 1. CASCADE COMPANY Income Statement For the Year Ended December 31, Year 1 Revenues 98,200 (68,200) Cash Net income $ 30,000
Required Information [The following information applies to the questions displayed below.] Cascade Company was started on January 1, Year 1, when it acquired $158,000 cash from the owners. During Year 1, the company earned cash revenues of $98,200 and incurred cash expenses of $68,200. The company also paid cash distributions of $10,500. Required Prepare a Year 1 income statement, capital statement (statement of changes in equity), balance sheet, and statement of cash flows under each of the following assumptions. (Consider each assumption separately.) c. Cascade is a corporation. It issued 8,000 shares of $12 par common stock for $158,000 cash to start the business. Complete this question by entering your answers in the tabs below. Inc Stmt Stmt of Changes Bal Sheet Cash Flows Prepare a statement of changes in stockholders' equity for Year 1. (Deductions should be indicated by a minus sign.) CASCADE COMPANY Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 1 0 0 0 Total stockholders' equity $
Required Information [The following information applies to the questions displayed below.] Cascade Company was started on January 1, Year 1, when it acquired $158,000 cash from the owners. During Year 1, the company earned cash revenues of $98,200 and incurred cash expenses of $68,200. The company also paid cash distributions of $10,500. Required Prepare a Year 1 income statement, capital statement (statement of changes in equity), balance sheet, and statement of cash flows under each of the following assumptions. (Consider each assumption separately.) c. Cascade is a corporation. It issued 8,000 shares of $12 par common stock for $158,000 cash to start the business. Complete this question by entering your answers in the tabs below. Inc Stmt Stmt of Changes Bal Sheet Cash Flows Prepare a balance sheet for Year 1. Assets Total Assets Liabilities Stockholders' equity Total paid-in capital Total liabilities and Stockholders' equity CASCADE COMPANY Balance Sheet As of December 31, Year 1 $ $ 0
Required Information [The following information applies to the questions displayed below.] Cascade Company was started on January 1, Year 1, when it acquired $158,000 cash from the owners. During Year 1, the company earned cash revenues of $98,200 and incurred cash expenses of $68,200. The company also paid cash distributions of $10,500. Required Prepare a Year 1 income statement, capital statement (statement of changes in equity), balance sheet, and statement of cash flows under each of the following assumptions. (Consider each assumption separately.) c. Cascade is a corporation. It issued 8,000 shares of $12 par common stock for $158,000 cash to start the business. Complete this question by entering your answers in the tabs below. Inc Stmt Stmt of Changes Bal Sheet Cash Flows Prepare a statement of cash flows for Year 1. (Cash outflows should be indicated with a minus sign.) CASCADE COMPANY Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating activities: 0 Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities: Proceeds from issue of stock Net cash flow from financing activities 158,000 158,000 Net change in cash Ending cash balance $ 158,000 S 96,000 62,000 S